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3 Important Points to Consider When Pricing Your Video Production
by Eguaogie Eghosa Nov 10, 2021 Views (156)
In a business like film and a video production, figuring out how to price out jobs at a cost that's right for you might be difficult. Potential clients are focused on their ultimate goals, and if they've never worked with visual media before, they're unsure where to start.

It's not always easy to understand how you get to the end product when that's all you're used to seeing. There's also a lot of competition out there, as well as a lot of misunderstanding regarding pricing and expectations.

With advertisements appearing all over the place with predetermined budgets and no comprehension of the work and costs involved, it's evident that we as an industry aren't doing enough to demonstrate the worth of the artist above the materials and processes they employ.

Even if you're just getting started with video production, you've certainly seen a slew of ads on craigslist, Facebook, Mandy, or StaffMeUp requesting video creation work for a pittance.

Let's pretend that only half of those postings are from unscrupulous producers looking to take advantage of newcomers, and ignore the other half. The other half are most likely folks who have no idea what they're getting themselves into, and it may be worthwhile to assist them.

Clients haggle because they're businesspeople who are always concerned about their bottom line. I don't think it's unreasonable to suppose that every working professional filmmaker has had to deal with the unpleasant reality of discussing finances with clients who don't understand our industry, or worse, those who know just enough to piecemeal and minimize what you'll be doing to cut costs.

It's just as vital to understanding the cost of running a business as it is to understand the value of your business expenses. To lead prospective customers toward their goals, filmmakers, videographers, and designers must offer their creativity and insight in addition to their fundamental competencies. Clients know what they want to achieve, but they don't know how to get there; it's your responsibility to help them figure out how to get there.

You won't always be able to help them, but if you take the time to listen to their needs, keep to your principles, and stay cheerful, you'll have learned the art of negotiation. When discussing projects with clients, Chris Do offers three extremely valuable tips:

1. Personalize Your Approach
Allowing your conversations to become focused on the item you'll manufacture, the equipment you'll use, or the amount of time you'll spend is not a good idea. Move the conversation away from the details and toward the creative, and spend time learning about their goals. Concentrate on the outcomes of your effort in their world and their company.

2. Pricing
The majority of the advertising you read for a cameraman with equipment, an editor for X hours, for $X, a rapid project, flat rates, and so on define what you do arbitrarily. Clients who need videos don't need people or equipment; they just need messaging that helps consumers recognize their image and brand. Make an ally of them rather than a subordinate.

As an example, a plumber doesn't talk about the pipes or equipment they'll use to fix your leaky sink; instead, they just get you to your end objective; which is ensuring that you no longer have a leaking sink and hand you the bill. Homeowners rarely bargain with plumbers because they recognize the value of their services – the same should apply to your video productions. People should be able to recognize the value of what you do and pay the price.

Tell them how much your project is worth to you, and then offer them a price that is fair and consistent with your business standards. Don't get hung up on the nickels and dimes; your expenses are your expenses.

Assist them in realizing that cutting back on your effort is contradictory; shorter projects require just as much, if not more, effort.

3. Step Back and Let the Client Decide. But Follow Up
Offer a referral or locate them a better value for their money if the price is all that matters to this client. Maybe they could just use their iPhone to capture this?

Persuade them that you, the artist they're hiring, are valuable. Work can be broken down into functions, but our work is based on creativity and experience. This is the method you use to go to where you want to go if they like and want your work.

Final Word
Consider employing or working with someone to make the sales for you if you dislike negotiating or would rather focus on other elements of your work. You'll almost certainly put just as much effort into obtaining the business as you will in creating the actual product, which isn't necessarily the best option for everyone.

When it comes to quality and value, if all a client wants is a camera to shoot with and someone to wield it, they'll get what they pay for. Not the bare minimum request of the highest bidder, but your creativity and ability should be reflected in your work. That isn't in either of your best interests.

Follow Filmdistrict Dubai, a major Production House in Dubai that specializes in Film Equipment Rental Dubai, Audio Visual Rental Dubai, Photo Booth Rental Dubai, and Camera Rental Dubai, to stay up to date on intriguing stuff like this.

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